Official Code of Georgia Annotated

Title 45. PUBLIC OFFICERS AND EMPLOYEES · Chapter 18. EMPLOYEES’ INSURANCE AND BENEFITS PLANS · Article 2. DEFERRED COMPENSATION PLANS

45-18-38. Board of Trustees of the Employees’ Retirement System to be the successor to the State Personnel Board and Employee Benefit Council for administration of deferred compensation plans; employment of and contracting with agents.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

(a)
Effective July 1, 2005, the Board of Trustees of the Employees’ Retirement System of Georgia shall be the successor to the State Personnel Board for the purpose of administering any deferred compensation plan provided to employees as referenced in Code Sections 45-18-32 and 45-18-33. The State Personnel Board shall transfer individual accounts, associated funds, and any other applicable information in a manner prescribed by the Board of Trustees of the Employees’ Retirement System of Georgia no later than September 30, 2005.#
(b)
The Board of Trustees of the Employees’ Retirement System of Georgia shall be the successor to the Employee Benefit Council for the purpose of administering any deferred compensation plan provided to employees as referenced in Code Section 45-18-32. The Employee Benefit Council shall transfer individual accounts, associated funds, and any other applicable information in a manner prescribed by the Board of Trustees of the Employees’ Retirement System of Georgia.#
(c)
The Board of Trustees of the Employees’ Retirement System of Georgia is authorized to employ agents and to contract with such agents for their services as investment advisors and counselors who will make recommendations for investments and make investments as the board of trustees so authorizes.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 45-18-38, enacted by Ga. L. 2005, p. 134, § 1/HB 275; Ga. L. 2006, p. 217, § 1/HB 1151.

Code Commission notes

Pursuant to Code Section 28-9-5, in 2023, “Code Section 45-18-32” was substituted for “Code Section 45-18-52” at the end of the first sentence in subsection (b).

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t45-(v33)-pdf.pdf, Volume V33, 2016 edition, 2025 supplement, page 129; merge action: replaced; file SHA-256 ec9f1ae9c82d.

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